Should I put my gross or net income on the application?

The type of income we review depends on the type of work you do. If you are considered a W-2 employee, Upgrade asks for your individual gross income or the annual amount of money you make before taxes and deductions. W-2 employees can find your individual annual gross income on a copy of your most recent W-2 document or pay stubs.

If you are self-employed, Upgrade asks for your net income or the annual amount of money you or your business has made after taxes and deductions. Once a credit decision has been made, we may request documents from you for income verification purposes. If you are self-employed, check out this FAQ for information on how to calculate your income.

Please note that you do not need to include alimony, child support, or separate maintenance income unless you’d like for it to be considered as a basis for repaying the amount you borrowed.

Articles in this section

• Are the personal loan rates fixed or variable?
• Can a personal loan or Upgrade Card be used for school?
• Can I apply by mail?
• Can I apply for another personal loan through Upgrade?
• Can I change my instructions?
• Can I include additional income?
• Can I include household income on my application?
• Can I increase my loan amount after I’ve already selected an offer?
• Can I mail my documents to you instead?
• Can I use my entire loan to pay off my credit cards?